The Basque Government ringfences 757 million euros as part of the Industry Support Programme
14 measures that envisage a private-public induced value of 2,189 million euros
• The Industry Support Programme aims to meet the most driving needs and to bolster the future competitiveness of the companies.
• The Government is stepping up its commitment to industry, as each industrial job generates between 2 and 5 new jobs in other segments of the economy.
• They are measures for the long haul in Basque industrial policy and adapted to the current needs of the business fabric.
• The most innovative initiatives are aimed at attracting foreign investment in the Basque Country and at driving new business management models.
The Basque Government has unveiled the guidelines and measures that make up the Industry Support Programme designed by and involving the Basque Government's Ministries for Economic Development and Competitiveness (DDEC), and for the Treasury and Finances, along with the Basque Industrial Development Agency - SPRI.
The Industry Support Programme includes a total of 14 measures that are part of a strategy to back business coordinated with the strategies to drive the industrialisation and innovation of the business fabric run by the DDEC and the SPRI.
The Programme is aimed at economic recovery and at progressing towards a new stage in Basque competitiveness and sustainable development, with an emphasis on overcoming the economic crisis and its impact on companies and individuals, along with bolstering the competitiveness of our companies and propping up the socio-economic model of the Basque Country.
The Basque Government aims to be the driving force of a favourable environment for industry where the inter-institutional cooperation and public-private partnership are essential.
The government‘s policy is aimed at developing a strategy to enhance the competitive capacity of our industry by means of an Advanced Manufacturing project. This will give impetus to the Basque Country's policy to foster growing insertion of our industry on international markets, as industry is considered to be the most important generator of services in the economy, as each industrial employment generates between 2 and 5 new jobs in other segments of the economy.
€757 million of public resources with induced value of 2,189 million*
The 14 measures considered in the Industry Support Programme are divided into four levels of backing and support for business, which sometimes overlap and are not always watertight.
The 14 measures include ones that have already proven to be successful in the Basque industrial policy, but which have been adapted to the current needs given the financial and economic situations of the market, along with new measures aimed at attracting new funding sources and innovation formulas in the management of the companies.
In short, four support levels that can be summarised as:
• Support for funding and working capital
• Support for investment: productive or new projects
• Support for Strategic Project that are strong driving forces
• Bolstering up the own funds of the companies